Senate Bill 13 Still Set To Become Law Despite Recent Modifications

A Senate Bill being pushed by Buffalo Missouri’s Republican Senator Sandy Crawford, aims to modify provisions related to financial institutions. With more here’s Capitol Reporter Dean Morgan….

She says the original measure, as presented in committee, is different than the final product…“and it repeals some obsolete portions of the banking code. Also clarifies the statutes concerning the division and state banking and savings and loan board.”

Senate Bill 13 makes changes to certain aspects to rules that governor the Missouri Division Finance; rules that oversee banks and trust companies; rules that govern cease and desist orders; and fees the Division of Finance collects.

During Missouri Senate discussion, Sen. Barbara Anne Washington of Kansas City mentioned this bill may have different results for different people…“How will these fees affect our consumers that may be credit challenged or poorer people that are needing to go to the bank? Will these fees kind of be passed on to them?”

Senate Bill 13 will become law on August 28th.

Story provided by Dean Morgan and the Senate Communications Commission.